Market Revenue Automotive HVAC Market Formulation and Validation

Automotive HVAC Market Formulation and Validation,
Estimation, Scope Till 2022
“Automotive HVAC Market was valued at USD 11.68 billion in 2014 owing to
increasing income level and growing middle class population. Moreover, with
the rise of private car rental players such as Uber, Ola, sidecar.”
The global Automotive HVAC Market was valued at USD 11.68 billion in 2014 owing to increasing income level
and growing middle class population. Moreover, with the rise of private car rental players such as Uber, Ola,
sidecar and Lyft, air conditioning system in the car have become a basic requirement to enhance customer value
proposition. The industry is highly competitive and hence investment on Research and Development is a key to
enhance product and add value to the companies offering. Companies also invest heavily to develop
technological ability to develop energy efficient system that can improve vehicle performance. These systems
require considerable amount of power to function and has a negative effect on fuel economy. Reduction of
system size and weight is expected to spur industry growth over the forecast period. Initiatives taken by the
government to curb global warming is expected to lead to introduction energy efficient systems.
Currently, the users have to select the temperature and blower setting. This is expected to decline over the
years owing to low efficiency and complexity. The technology accounted for over 35% market share in 2014.
The automatic system is a major technology segment and is expected to continue dominance over the next
seven years. Automatic systems accounted for over 55% market share and is expected to grow at a CAGR of
over 8.5% during the forecast period. Rising disposable income and availability of various finance schemes is
expected to spur growth for the market over the forecast period. Passenger car HVAC market accounted for
over 60% overall market by revenue in 2014 and is expected to grow substantially over the forecast period.
HVAC system in LCVs are also expected to grow at a CAGR of over 7% due to rising demand from rural areas
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